A decrease in the productivity of a factor of production will
A. cause a firm to move up the marginal revenue product curve.
B. shift its marginal revenue product curve to the right.
C. cause a firm to move down the marginal revenue product curve.
D. shift its marginal revenue product curve to the left.
Answer: D
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According to Figure 11.2, a shift from AD1 to AD2 will
A. Eliminate the GDP gap because of the increase in output. B. Move the economy to point Y and then the market mechanism will move the economy to point Z. C. Move equilibrium to point Y where the price level is higher than before. D. Move equilibrium to QF.
Marginal cost is the _______________in variable costs that comes from using additional factors of production.
Fill in the blank(s) with the appropriate word(s).
A principal disadvantage of conventional checking accounts compared to money market mutual funds is that checking accounts
A. are less liquid. B. often do not pay interest. C. cannot be used as a store of value. D. are not insured by deposit insurance.
Refer to the table shown that depicts a third-party payer market. What is the quantity demanded if a $1 co-pay is established?PriceQuantity DemandedQuantity Supplied$01,2000$1600150$2300300$30450$40600$50750$60900$701,050
A. 300 B. 0 C. 900 D. 600